Section 5049

Corp. Code § 5049, under GENERAL PROVISIONS AND DEFINITIONS GOVERNING PARTS 1 THROUGH 5.

Corp. Code § 5049

“Distribution” means the distribution of any gains, profits or dividends to any member as such. As used in this section, “member” means any person who is a member as defined in Section 5056 and any person who is referred to as a member as authorized by subdivision (a) of Sections 5332, 7333 and 9332.

(Amended by Stats. 1979, Ch. 724.)